The importance of real estate funds in Spain
Investments in real estate funds in Spain are currently attractive due to low interest rates. For individual investors, there exists the advantage of being able to invest in real estate funds in larger projects such as shopping malls or office complexes. There is a distinction between open and closed real estate funds.
Modernization of corporate governance in Spanish corporations
According to corporate regulations in Spanish corporations, the remuneration of the members of the Board of Directors must be approved during the annual general meeting, at least once every three years.
A manager’s liability to the Spanish Treasury after resgination
Managers of a company assume liability for actions against third parties. Under the rules of the Spanish General Taxation Law, the Spanish Treasury can hold them accountable for the company´s unsettled tax debts.
Three ways to make a complaint to the CIRBE in Spain
The CIRBE (Centre of Risk Information of the Bank of Spain) is a public and confidential data base that collects information about direct and indirect risks for amounts greater than 6000 euros that credit entities have with their clients. Whenever a correction of information is needed, companies have three different possibilities to make a complaint.
Employment implications of business subrogation in Spain
The aim of business succession regulation is to reinforce the guarantees of workers facing ownership changes, improve information resources and consultation, and increase participatory rights. A business owner must duly seek advice since he or she must take responsibility for pension commitments that workers have in accordance with specific regulations, as well as the various forms of supplementary social protections that the workers have may been endowed with (policies for civil responsibility, life, work-related accidents, temporary disability, help, etc.)
Remarks concerning Consumer Credit Agreements in Spain
The incorporation of a new company in Spain to undertake consumer credit activities does not require a specific regulatory license given that the new company will not be incorporated as a credit institution.
Regulations on complimentary hours agreements in Spain
Article 12 of the Worker’s Statute regulates the completion of complimentary hours in Spain. Complimentary hours are those that surpass the ordinary working hours and are previously agreed to by the company and employee in writing, either at the signing of the part-time contract or afterwards.
Entities Holding Foreign Security (ETVE) in Spain
The main characteristic of Spanish Entities Holding Foreign Security is the tax exemption with regards to dividends and capital gains. This constitutes an important incentive for those interested in establishing holding entities in Spain.
The Difference between Overtime Hours and Complementary Hours in Spain
The new applicable labour regulation in Spain considers overtime hours carried out by part-time workers illegal, unless unforeseen circumstances justify their execution.
Agreements not included under the CCA in Spain
When considering whether an exemption applies to a consumer credit agreement (which would take the agreement outside the scope of regulation of the CCA), care must be taken to consider the precise terms of the relevant exemption.
